Bournemouth Academy of Modern Music Ltd - Period Ending 2017-08-31
Bournemouth Academy of Modern Music Ltd - Period Ending 2017-08-31
Period from 22 August 2016 to
Registration number:
Bournemouth Academy of Modern Music Ltd
Contents
Balance Sheet |
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Notes to the Financial Statements |
Bournemouth Academy of Modern Music Ltd
Balance Sheet
31 August 2017
Note |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
Page 1 |
Bournemouth Academy of Modern Music Ltd
Balance Sheet
31 August 2017
For the financial period ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the director on
Mr Alan Barclay
Director
Company Registration Number: 10339203
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Bournemouth Academy of Modern Music Ltd
Notes to the Financial Statements
Period from 22 August 2016 to 31 August 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 and Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements have been prepared in British pound sterling and the have been rounded to the nearest whole pound.
Disclosure of long or short period
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment |
5 years straight line |
Page 3 |
Bournemouth Academy of Modern Music Ltd
Notes to the Financial Statements
Period from 22 August 2016 to 31 August 2017
Computers |
5 years straight line |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
3 years straight line |
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Bournemouth Academy of Modern Music Ltd
Notes to the Financial Statements
Period from 22 August 2016 to 31 August 2017
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 August 2017 |
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Amortisation |
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Amortisation charge |
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At 31 August 2017 |
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Carrying amount |
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At 31 August 2017 |
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Tangible assets |
Equipment |
Computers |
Total |
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Cost or valuation |
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Additions |
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At 31 August 2017 |
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Depreciation |
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Charge for the period |
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At 31 August 2017 |
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Carrying amount |
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At 31 August 2017 |
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Page 5 |
Bournemouth Academy of Modern Music Ltd
Notes to the Financial Statements
Period from 22 August 2016 to 31 August 2017
Creditors |
Note |
31 August 2017 |
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Due within one year |
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Loans and borrowings |
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Amounts due to group undertakings |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2017 |
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Non-current loans and borrowings |
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Bank borrowings |
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2017 |
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Current loans and borrowings |
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Bank borrowings |
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There is a fixed and floating charge over all the companies assets by the bank due to the loan.
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